The Human Resources and Remuneration Committee serves a term of three years. A director who retires by rotation may be re-elected. The Committee reports directly to the Board of Directors. Its authorities and responsibilities as assigned by the Board of Directors cover the entire tasks concerning the management of human resources and remuneration of the Board of Directors, committees, and top executives (including the Chief Executive Officer, Senior Executive Vice President and Executive Vice President).

Duties and Responsibilities of Human Resources and Remuneration Committee

1. To formulate the Company’s vision and strategies on human resources management of the Company as well as their Management Development Plan.
2. To review and ensure that size and components of the Board of Directors of the Company are appropriate to cope with changing environment.
3. To establish the clear, transparent and appropriate policy, criteria and procedure in nominating, selecting, removing or terminating directors and top management of the Company to ensure that management team of the Group have appropriate qualification, knowledge, competency and experiences for the success and effectiveness of the group company’s business operation.
4. To select and nominate persons with required qualifications to be the director and top management of the Group. Also, specialists are invited to participate in the selection process if necessary at the Company’s expenses.
5. To prepare succession plan for critical positions and conduct a regular review, by appraising the importance of the position, as well as recruiting and developing potential persons to ensure that the successor has knowledge, experience and other required qualifications that will help drive the effectiveness, efficiency and growth of the business group.
6. To establish a policy and strategies on compensation which include salary, meeting allowance, daily allowance, bonus and other benefits to directors and top management in the Company’s Group before proposing to the Board of Directors for approval. Consideration and approval will be based on clear and transparent criteria in order to induce, retain and motivate high qualified and high potential human resources.
7. To formulates effective guidelines, criteria, procedures and process for assessing the performance of the Board of Directors and top management of the Company by comparing to annual goals to be in line with the Company’s business plan as stated in order to review the management’s annual remunerations. The Committee shall take duties, responsibilities, related risks and increases in shareholders’ equity over the long term into consideration.
8. To disclose the policy related to remuneration as well as amount of remunerations for the Board of Directors and top management in the Company’s annual report.

HUMAN RESOURCES AND REMUNERATION COMMITTEE’S REPORT

In 2025, the Human Resources and Remuneration Committee carried out its assigned duties with consistency and diligence, within the scope of authority delegated by the Board of Directors. The Committee focused on supporting the Company’s strategic direction through the supervision of human resource management, talent development, and the establishment of remuneration frameworks aligned with principles of good corporate governance, relevant laws and regulations, and prevailing labor market conditions. These efforts aimed to strengthen organizational capability, enhance operational competitiveness, and promote long-term sustainability. Throughout the year, the Committee convened a total of 11 meetings, with all incumbent members attending every meeting. Minutes, reports, and recommendations arising from these meetings were regularly submitted to the Board of Directors for consideration. Key activities undertaken during the reporting period can be summarized as follows

1. Human Resources Policy and Strategy: The Committee reviewed the Company’s human resources policy direction to ensure alignment with corporate strategy and prevailing practices within the energy industry. Consideration was given to enhancing workforce management efficiency, supporting work-life balance, strengthening employee capabilities, and fostering an organizational culture that encourages sustainable growth. The Committee also approved development and training initiatives designed to address future skill requirements and build competencies across all employee levels. These initiatives were directed by principles of fairness, non-discrimination, equal opportunity, merit-based work assignment, and the establishment of appropriate remuneration.
2. Oversight of Employee Benefits and Welfare: Throughout the year, the Committee continuously reviewed employee benefits and welfare programs, taking into account economic conditions and labor market trends. Priority was placed on promoting quality of life, maintaining a healthy work-life balance, and supporting employees in managing their cost of living. Deliberations also considered the Company’s competitive position relative to peers within the energy industry, as well as the long-term sustainability of related costs. These efforts were directed toward strengthening the Company’s ability to attract and retain talent, while supporting sustainable organizational growth in the future.
3. Recruitment and Appointment of Directors and Executives: The Committee considered and screened candidates with appropriate expertise, experience, and qualifications for nomination and appointment as directors and executives of the Company and its affiliates. The process adhered to principles of fairness, transparency, and full compliance with applicable laws and good corporate governance standards. In addition, the Committee supported the development of succession plans for key positions to ensure readiness for leadership transitions and business continuity. These actions were undertaken to facilitate effective implementation of the Company’s strategic priorities and to support the achievement of established organizational objectives.
4. Determination of Remuneration Policies for Directors, Executives, and Employees: The Committee reviewed the remuneration structure for directors, executives, and employees to ensure fairness, alignment with duties and levels of responsibility, and competitiveness within the relevant labor market. The objective was to encourage high performance and strengthen organizational effectiveness. Deliberations were informed by compensation surveys from leading companies, relevant economic data, and the Company’s operating results. The Committee also considered criteria for annual salary adjustments and bonus payments based on corporate performance, financial position, and individual performance evaluations, with the aim of ensuring transparency, appropriateness, and adherence to principles of good governance. Remuneration packages for directors and executives were submitted to the Board of Directors for consideration and approval prior to implementation, thereby maintaining consistent standards and alignment with established Company policies.
5. Succession Planning for Critical Positions: The Committee placed significant emphasis on the development and review of succession plans for executives and other roles considered strategically important to the business. Regular oversight was exercised to ensure succession plans remain current and effective. The Committee also encouraged the establishment of career development, training programs, and leadership capability enhancement initiatives to strengthen readiness among potential successors. These efforts were undertaken to ensure the Company maintains a pool of qualified personnel able to assume key responsibilities when required, respond promptly to changing circumstances, and support continuity in business management.
6. Performance Evaluation of the Board of Directors and Board Committees: The Committee conducted annual performance evaluations of the Board of Directors, the Board Committees, and individual self-assessments in accordance with established criteria. The evaluation framework covered roles and responsibilities, meeting effectiveness, oversight functions, and knowledge development. The results reflected effective performance and a strong commitment by Directors to upholding principles of good corporate governance. Findings from the evaluations will be used to enhance working practices and further strengthen governance effectiveness in the subsequent year.

On behalf of the Human Resources and Remuneration Committee, we reaffirm our commitment to performing our duties with transparency, diligence, and adherence to the principles of good corporate governance. Our objective is to ensure that the Company’s human resource management is effective, equitable, and aligned with its strategic goals. The Committee remains dedicated to driving continuous improvement for the benefit of the Company, its stakeholders, and all shareholders.

(Mr. Kriengkrai Rukkulchon)
Chairman of the Human Resources and Remuneration Committee